{"id":6983,"date":"2024-11-15T10:33:44","date_gmt":"2024-11-15T08:33:44","guid":{"rendered":"https:\/\/industryinsight.co.za\/wp\/?p=6983"},"modified":"2024-11-15T10:33:45","modified_gmt":"2024-11-15T08:33:45","slug":"retail-building-rates-surge-in-q3-of-2024","status":"publish","type":"post","link":"https:\/\/industryinsight.co.za\/wp\/retail-building-rates-surge-in-q3-of-2024\/","title":{"rendered":"Retail building rates surge in Q3 of 2024"},"content":{"rendered":"\n<p>The South African construction industry saw mixed trends in Q3 2024. Commercial building costs rose by 12.1%, driven by a 43% surge in retail space costs to R16,407\/m\u00b2, while office space costs dropped 8.8% to R18,000\/m\u00b2. Industrial space costs grew 10% to R13,292\/m\u00b2, and residential costs moderated to a 5.7% increase, averaging R11,380\/m\u00b2.<\/p>\n<p>Stats SA reported more modest growth, with domestic and commercial construction costs rising 4.3% and 4.2%, respectively. However, approved building plan rates for commercial spaces averaged R8,400\/m\u00b2, significantly below Industry Insight&#8217;s estimate of R16,000\/m\u00b2. The market reflects robust retail demand, industrial resilience, and challenges in the office space sector.<\/p>\n<p><strong>Output Building Cost Indices 2024 Q3: Click <a href=\"https:\/\/industryinsight.co.za\/wp\/download\/output-building-cost-indices-3rd-quarter-2024\/\">here<\/a> for the latest update, now available to subscribers<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The South African construction industry saw mixed trends in Q3 2024. Commercial building costs rose by 12.1%, driven by a 43% surge in retail space costs to R16,407\/m\u00b2, while office space costs dropped 8.8% to R18,000\/m\u00b2. Industrial space costs grew 10% to R13,292\/m\u00b2, and residential costs moderated to a 5.7% increase, averaging R11,380\/m\u00b2. Stats SA&#8230; <\/p>\n","protected":false},"author":9,"featured_media":6984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/posts\/6983"}],"collection":[{"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/comments?post=6983"}],"version-history":[{"count":1,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/posts\/6983\/revisions"}],"predecessor-version":[{"id":6985,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/posts\/6983\/revisions\/6985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/media\/6984"}],"wp:attachment":[{"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/media?parent=6983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/categories?post=6983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/tags?post=6983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}